Genworth Financial Inc. is suspending sales of its long-term health insurance products in California, as the company — and industry in general — is reassessing its ability to cover nursing-home and assisted-living-facility costs. The largest seller of long-term health care domestically, Genworth (US:GNW) said it would stop offering its California Choice and Choice Partnership programs, which represented 12% of Genworth’s long-term health-care insurance sales. Genworth also offers life and mortgage insurance, as well as investment advice for seniors according to a recent report at www.marketwatch.com.
